Business

Sundance Energy to start trading in U.S.

Sundance Energy Australia, which despite its name is a Denver-based oil and gas producer focused on domestic reserves, expects to raise about $124.4 million in a U.S.-based stock offering next week.

Shares of the Australian company already trade on the Australian Securities Exchange under the ticker symbol SEA, but the new offering will put its shares on the Nasdaq under the symbol SNDE.

The company in December registered to offer 7.75 million American Depositary Shares, or ADSs, worth 20 ordinary shares each. The company expects that each ADS will price somewhere between $16.50 to $18.50, according to Renaissance Capital, a Connecticut firm that tracks new stock offerings.

Sundance, founded in 2004, shifted in recent years from a more passive to an active approach in developing its properties and operating its wells.

The company reported $50.5 million in revenues for the nine months ended Sept. 30.

Sundance is active in south Texas, north-central Oklahoma, North Dakota and the Wattenberg field in Weld County. It plans to use the proceeds from the offering to speed up the development of its holdings.

Polis complained after Sundance started drilling near his 50-acre weekend retreat in Weld County. Inspectors from the Colorado Oil and Gas Commission found that some of the wells violated the state's setback rules, which regulate how far away wells need to be from power lines, roads and buildings.

Rockies relief pitcher John Axford, who hasn't pitched for the team since last Wednesday, was forced to leave spring training camp after his 2-year-old son was bit by a rattlesnake twice in his right foot.

One-day event to run slide down University HillIt's not quite the alternative mode of transportation that Boulder's used to, but, for one day this summer, residents will be able to traverse several city blocks atop inflatable tubes.

DETROIT (AP) — In a story March 27 about a 'Little Syria' exhibit going to Ellis Island, The Associated Press, due to incorrect information from the Arab American National Museum, erroneously reported the date the exhibit will open. Full Story